Pakistan Registers 5,003 New Companies in October, IT Sector Leads

The Securities and Exchange Commission of Pakistan (SECP) has reported a significant increase in company registrations, with 5,003 new companies incorporated in October alone. This brings the total number of registered companies in the country to 321,794, according to an official statement.

The information technology sector emerged as the most popular choice for new businesses, with 991 companies registered. Trading followed with 767 registrations, while the services sector saw 594 new companies. Construction, food and beverages, tourism, and real estate also attracted notable numbers, with 295, 219, 213, and 170 registrations respectively.

A breakdown by region shows Punjab leading with 2,663 new companies, followed by Islamabad with 934 and Sindh with 751. Khyber Pakhtunkhwa recorded 382 new registrations, Gilgit-Baltistan 162, and Balochistan 111. The SECP highlighted that 99.9 percent of these registrations were completed online, reflecting the commission's push towards digitalization.

Among the newly registered companies, 55.4 percent were private limited companies, while 41.6 percent were single-member companies. Additionally, 173 foreign investors became directors in these new companies, and women's participation as shareholders and directors stood at 13 percent.

SECP Chairman Dr. Kabir Ahmed Sidhu attributed the rise in registrations to growing investment in the country. He emphasized that the commission is digitalizing corporate compliance to make doing business easier. "The more new companies are formed, the more new employment opportunities will be created in the country," he said.

The increase in company registrations is seen as a positive indicator for Pakistan's economy, particularly with the IT sector leading the way. This trend suggests a growing interest in technology-driven businesses and could contribute to job creation and economic growth in the months ahead.